Bonds had a nice bounce higher today continuing an upswing that began after yesterday afternoons Fed rate hike. A slightly lower start provided an entry without having to reach much for any bulls out there. A higher stock market open especially for the Naz was a little intimidating but other indexes were reluctant to follow and a sharp break midday in the Russell index helped bonds remain higher. The yield curve flattened as usual. Will the market finally have enough gas to break over recent trading ranges? The answer will probably depend on whether the stock market ever corrects . The Russell seems willing. Today’s lower close in all three major indexes is a change and certainly may hint that the tax cuts influence has been discounted. It’s certainly possible at this point that there may be little boost from further news about it. Two reports tomorrow, the Empire State manufacturing read followed by Industrial Production at 8:15.